Tax filing deadlines have been extended due to the COVID-19 outbreak. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by September 30, 2020. In some cases, they have extended the due dates for current and prior tax payments and form filings. CRA is experiencing delays in processing paper income tax and benefit returns. 3) Order 2020 (002), COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (Order) (13 Apr 2020), COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) (Amendment) Order 2020 (14 April 2020), Additional Guidance on the Conduct of General Meetings During Safe Management Period (updated on 22 Jun 2020), Ministry of Law and Ministry of Finance joint media statement (31 Mar 2020), ACRA-MAS-SGX RegCo updated Guidance on general meetings (31 Mar 2020), Financial Reporting Practice Guidance 1 of 2020, Audit Practice Bulletin No 1 of 2020: Key audit consideration - COVID-19, ISCA’s COVID-19 Navigator – A Guide for Singapore Chartered Accountants, MTI’s information for businesses on the temporary suspension of activities due to tightened safe distancing measures. Applies to income tax balances and instalments due on or after March 18 and before September 30, 2020. The later of September 30, 2020 or six months after their day of death. September 30, 2020 Further extended as of July 27. The extensions to the filing due date for income tax returns detailed below also apply to forms T106 and T1135, and any elections, forms, and schedules that must be filed with the return or on the same day as the return. Applies to partnerships that would normally have a filing deadline after March 31 and before May 31, 2020. (Don’t include any personal information. Penalties and interest will not be applied if returns are filed and payments are made by September 30, 2020. ACRA will grant a 60-day extension of time for all listed and non-listed companies whose AGMs are due during the period 16 April 2020 to 31 July 2020. See Payroll page for filing deadlines. 2) Regulations 2020 to prescribe the classes of companies to which ACRA is granting the extensions of time was published on 15 April 2020. Mortgage charges In Apr 2020, ACRA had granted a 60-day extension of time (EOT) for all listed and non-listed companies whose AGMs are due during the period 16 Apr to 31 Jul 2020, and AR filings due between 1 May and 31 Aug 2020. The checklist is also applicable to VCCs and non-listed unit trusts, with the necessary modifications. Applies to non-resident corporations electing under section 216(4) that would otherwise have a filing deadline on May 31, or in June, July, or August 2020. The deadline to pay off any outstanding balances interest-free will also be extended to August 31, 2020. ... Returns due to the COVID-19 situation, IRAS would grant them a 1-month extension till 15 Jan 2021 to e-File the YA 2020 CIT Returns, provided that the companies had submitted the "Request for Filing Extension for YA 2020 Corporate Income Tax … ACRA's Support Measures and Guidance during COVID-19, Guidance on the Conduct of General Meetings Amid Evolving COVID-19 Situation (1 Oct 2020), Multi-Ministry Taskforce’s announcement on “Resuming More Activities Safely” (23 Sep 2020), Ministry of Law press release (30 Sep 2020), Companies Variable Capital Companies Business Trusts Unit Trusts and Debenture Holders (Amendment No. The CRA will also waive arrears interest on existing tax debts related to individual, corporation, and trust income tax returns from April 1, 2020, to September 30, 2020, and from April 1, 2020, to June 30, 2020, for Goods and Services Tax/Harmonized Sales Tax (GST/HST) returns. There is no change to the current penalty framework for other ad hoc filings. The media release does not specifically address other matters such as deadlines for filing objections and appeals. Details of the Extension of Time (EOT) for Holding AGM and Filing AR. The deadline for furnishing of income tax returns for the Assessment Year 2020-21 … ACRA will process and allow these applications for extension of time (EOT) through BizFile + for these companies with … The Control Period will be the period commencing retrospectively from 27 March 2020 to the last day the Regulations or the Infectious Diseases (Measures to Prevent Spread of COVID-19) Regulations 2020 is in force. Following Singapore’s move into phase two of its reopening on 19 June 2020, ACRA, the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have updated the joint guidance and checklist issued on 13 April 2020, to guide the conduct of general meetings during safe management period. The later between June 15, 2020 or six months after their day of death. The Canada Revenue Agency is extending some of the filing deadlines for corporations and trusts in a move to help businesses and tax preparers dealing with the COVID-19 pandemic. September 30, 2020 Further extended as of July 27. This extension also applies to forms T106 and T1135, and any elections, forms and schedules that must be filed with the return. The filing deadline extension will only apply if the event, such as a change to your company’s directors or people with significant control, happened on or before 5 April 2021. Should issuers and non-listed companies, after due consideration of public health and other risks, wish to provide for physical attendance at their general meetings, they must ensure that they implement all relevant measures to comply with the safe management measures imposed by the Singapore Government. This will provide companies, variable capital companies, unit holders of registered business trusts, unit holders of unit trusts and holders of debentures, with greater legal certainty to plan their meetings, and the option to hold virtual meetings to minimise physical interactions, amid the continuing COVID-19 situation. Applies to trusts with a tax year end date of December 31, 2019. The previously-extended filing due dates for individual, corporation, and trust income tax returns remain unchanged. Applies to partnerships that would normally have a March 31 filing deadline. The Checklist was first issued amid the evolving COVID-19 situation on 13 April 2020 and updated on 27 April 2020 and 22 June 2020. On 7 April 2020, ACRA published a media release on “Extension of Deadline for Holding Annual General Meetings and Filing Annual Returns”. This applies in respect of income tax returns and the associated elections, designations and information returns, such as the Form T1135, that are required to be filed with or on the same day as the return. However, recognizing the difficult circumstances faced by Canadians, the CRA will not charge late-filing penalties where a 2019 individual return or a 2019 or 2020 corporation, or trust return is filed late as long as it is filed by September 30, 2020. Learn how your state may change its tax payment and filing deadlines due to COVID-19. ACRA, the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have updated the checklist to guide issuers and non-listed entities on the conduct of general meetings arising from the latest updates from the Multi-Ministry Taskforce to ease safe management measures to facilitate business operations. Extended Tax Filing Deadlines. 1. 4. Tax in respect of Registered Investments (Parts X.2), Tax in respect of overpayments to Registered Education Savings Plan (Part X.4), Payments under Registered Education Savings Plan (Part X.5), Tax on Investment Income of Life Insurers (Part XII.3), Recovery of labour-sponsored funds tax credit (Part XII.5). This also applies to the June 15 and September 15, 2020, instalment payments for those who have to pay by instalments. You will not be charged late-filing penalties or interest if your 2019 individual (T1) income tax returns are filed and payments are made prior to September 1, 2020. This also applies to the Part XIII remittance requirement associated with income paid or payable to non-resident beneficiaries. Applies to partnerships that normally have a filing deadline on May 31, or in June, July, or August 2020. Although Oct. 15 is the last day for most people to file, some may have more time. File your 2019 taxes online as soon as possible and register for direct deposit to get refunds faster and avoid interruptions to benefit and credit payments. Download the press release (PDF, 100KB) for more details. A transitional arrangement is also provided for any meeting convened, held, conducted or deferred during a period of 30 days after the end of the Control Period, where the notice of the meeting was given during the Control Period. The Order prescribes the alternative arrangements for the conduct of general meetings of companies, variable capital companies, unit holders of registered business trusts, unit holders of unit trusts and holders of debentures. The AR filing due dates for the period 1 May 2020 to 31 August 2020 for all listed and non-listed companies will also be extended for 60 days. Under these extensions, certain trusts and corporations with tax returns otherwise due in June, July or August 2020, may now file those returns by September 1, 2020. While this measure for existing tax debts does not cancel penalties and interest already assessed on a taxpayer’s account prior to this period, it will ensure that a taxpayer’s existing tax debt will not grow through interest charges during this difficult time. In response to COVID-19, some state tax agencies are offering waivers and extensions to payroll tax deadlines. Tax payment deadlines have not been extended. The CRA is seeking T1 returns by June 15, 2020 for sole proprietors in order to ensure accurate federal and provincial benefits payments. Penalties and interest relief will be considered on a case-by-case basis for income tax balances that are not listed above. The alternative arrangements apply to meetings convened, held, conducted or deferred during the Control Period. 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